CHICAGO, Jan. 23, 2024 – UPC Power Solutions, a joint venture between ACEN, PivotGen and UPC Solar & Wind Investments, announced today the completion of its purchase agreement with EDF Renewables North America. The closing of this agreement involves the purchase of the lessee interests in the 38 MW Chestnut Flats operating wind project located near Altoona, PA. EDF Renewables will continue to provide asset management and operations and maintenance services.
Established in April 2022, UPC Power Solutions is focused on acquiring operating wind projects in the US and exploring strategies for extending useful life and enhancing performance through preventative maintenance and new investment.
“The addition of this high-quality renewable asset will support our long-term strategy to build a diversified fleet of operating wind projects,” said Tim Rosenzweig, chief executive officer of UPC Power Solutions. “Our investment in Chestnut Flats will create economic opportunity and maintain jobs in the local community.”
With this acquisition, the ninth project and second M&A closing in 2023, UPC Power Solutions’ operating portfolio has grown to over 170 MW of renewable power generation across multiple states in the US.